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Gaming Industry News Weekly Recap – Stories You Might Have Missed

TAGs: weekly recap

weekly-news-recap-Aug-6Full Tilt Poker pays dues in Alderney, gets backup from Kahnawake
Full Tilt made nice with both its regulatory overseers this week. The Alderney Gambling Control Commission reported that FTP had made good on the £250k owed for its primary gaming license, which probably explains why the Kahnawake Gaming Commission saw fit to renew FTP’s secondary license.

Lock Poker pro José Macedo confesses to cheating scandal
Beware Cinderella stories like that of the so-called ‘poker prodigy’ Macedo; turns out they may be nothing more than fairy tales.

Macau records second best revenue month ever in July
A five-letter synonym for ‘cash’ beginning with the letter ‘M’? Move over, ‘money’… Meanwhile, the boffo success of the newly opened Galaxy Macau means Galaxy Entertainment Group’s market share is now second only to Stanley Ho’s SJM Holdings behemoth. Feeling left out, Melco Crown Entertainment announced it intended to set up shop on the Hong Kong stock exchange.

Cantor Gaming sues former exec for William Hill deal money
William Hill’s recent purchase of Nevada outfit Brandywine Bookmaking got a little more complicated after Cantor Gaming sued a Brandywine exec (and former Cantor employee) for breaching non-compete and confidentiality obligations.

Public gaming companies take beating
Public gaming company stocks took a dive this week, with Betfair and Bwin.party (Pwin) reaching record lows – and this was before Standard & Poor’s tossed their US debt downgrade hand grenade into the mix.

Greece passes gaming law ahead of EU/IMF visit
Greece backed off some of the more controversial elements of its new gaming legislation, while Intralot renewed its deal with current Greek monopoly provider OPAP for another year. Further north, Latvia also proposed changes to its gaming laws.

Net Entertainment CEO steps down
Net Ent skipper Johan Öhman, who’s been at the helm since 2006, steps down immediately for “family reasons.” If he were a politician, he’d have had to make such an announcement at a podium with a super-pissed-off-looking wife standing just to his left.

State lotteries: luck’s got nothing to do with it
First, Massachusetts raised eyebrows by confirming that a few very crafty individuals were claiming a majority of the prizes, which state lottery officials didn’t seem to think was all that much of a problem. Shocking stuff, at least, until we got wind of the Luckiest Woman In Texas.

EARNINGS REPORT CARDS
Among those reporting earnings figures this week were Finland’s state-controlled RAY, NetPlay TV, Gaming VC, Ladbrokes, William Hill and Tipp24.

VIDEO PICK:
Our own Dana Workman delivers her wrap-up from the 2011 World Series of Poker, which helpfully involves a visit to a strip club. God bless her…

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